The Intermediate Accounting sequence provides students with a foundation in the basic theory and principles underlying the preparation of financial statements of business entities. Basic computer and spreadsheet skills are expected. AC 3000 covers the foundations of financial accounting and reporting, including history of accounting, the conceptual framework and objectives of financial reporting, cash versus accrual basis, elements of financial statements, the complete accounting cycle, revenue and expense recognition, comprehensive income statement, balance sheet and statement of cash flows. Prerequisite: AC 2100, Junior standing; prerequisite or concurrent: BUS 1800.

Development of a comprehensive analysis of financial accounting topics involved in preparing, interpreting and using financial statements that comply with generally accepted accounting principles. Designed to help students understand and apply the conceptual framework of financial reporting, asset measurement and revenue recognition.